JP Morgan Pulls Ahead in FICC Tussle – Wall Street Journal (subscription)
A much improved first quarter for fixed income, currencies and commodities units within the largest investment banks has resulted in JP Morgan pulling ahead of its rivals at the top of the global FICC league table, according to new research.
DTCC Kicks off Global Data Harmonisation Plans with Derivatives – Banking Technology
US post-trade utility the DTCC has issued a series of recommendations on global data harmonisation, beginning with credit derivatives, as part of a grand push to harmonise 30 data fields across global trade repository providers and create a global data dictionary.
FastMatch Updates Last Look Procedure – FX Week (subscription)
Trading platform FastMatch is the latest foreign exchange venue to tweak its rules on last look liquidity, only weeks after three of its rivals announced similar changes. In a note to clients from chief executive Dmitri Galinov, FastMatch clarified the two types of liquidity received by clients on the platform – order driven and quote driven (last look).
CME-LCH Basis to Persist, Say Dealers – Risk Magazine (subscription)
Attempts by CME Group to lure interdealer swap traders away from its main rival are not likely to succeed, according to trading and clearing sources at four banks, although early evidence suggests a suite of measures announced by the US exchange group last month may be having some impact. If CME fails in its bid, the outcome is likely to be a persistent price difference for trades.